PNB fraud case: Nirav Modi may get arrested in UK, but he will be out on bail just like Vijay Mallya

A top court in London, UK has issued a warrant to arrest fugitive Indian diamantaire Nirav Modi who is accused in Rs 13,500 crore Punjab National Bank (PNB) fraud case.

The order came in response to a request by the Enforcement Directorate for his extradition to India to face charges in the money laundering case, officials said Monday.

They said the investigative agency has been recently informed about the issuance of the warrant by the Westminster Magistrate Court against Modi and he is expected to be put under formal arrest by the London Metropolitan police soon.

Also Read: Fugitive billionaire diamantaire Nirav Modi to be arrested soon, UK court issues warrant

The warrant was issued a few days back and the ED was subsequently informed, they said.

Modi, 48, will be subsequently brought before the court to secure bail and the legal proceedings for his extradition will begin thereafter, they told PTI.

Westminster Magistrates' Court in London has issued an extradition warrant against Modi, making his arrest imminent, according to sources in London involved with the case.

Also Read: UK court issues warrant against Nirav Modi and more news

While the UK court and Scotland Yard said they cannot confirm or deny the warrant until an arrest has been executed and an accused has been formally charged, officials aware of the developments confirmed that a warrant was issued last week with authorities in India being made aware on Monday.

"The reason we do not comment on an arrest until it takes place is because the individual must be charged before anything can be established," a Metropolitan Police spokesperson said.

Now that a warrant has reportedly been issued, Modi can choose to voluntarily surrender or be arrested by Metropolitan Police officers charged with executing the warrant.

Also Read: Wait, what?! Mehul Choksi submits PhD thesis on PM Modi

If Modi gets arrested, he is likely to be produced before a District Judge at Westminster Magistrates' Court in London to be formally charged, following which he is expected to seek bail.

The case will then follow a similar pattern through the UK courts as that of liquor baron Vijay Mallya, who remains on bail since his arrest on an extradition warrant in April 2017.

Mallya's case is in its final stage with UK Home Secretary Sajid Javid ordering his extradition last month.

Also Read: Nirav Modi's case found 'fit for extradition', file moved to London court; may be arrested soon

Also Read: Nirav Modi in UK: What is the 'golden visa' the conman used to enter Britain?

Also Read: PNB fraud case: Nirav Modi secured fake LoUs to divert funds through dummy firms, says ED